page_title: CSAV
section_title: History
hierarchical_section_title: CSAV / History
caption_attribution_description: It actually take up to 30m for a container ship of this size to pass through the lock, in 3 different stages where it is lowered slowly to the level of the sea on the Pacific Ocean side (assuming it's coming from the Atlantic)
context_page_description: CSAV is a Chilean shipping company that is currently the largest company of its type in Latin America and also one of the oldest ones, having been founded in 1872. The company is established in the port of Valparaiso and is currently classified number 20 in the ranking of largest container shipping companies in the world.
  Originally, the company's business consisted exclusively of coastal shipping, but had a rapid expansion from the west coast of South America to the Panama Canal when this was opened to regular traffic. Soon, its business expanded further to offer shipping to the rest of the world. Now, their main business is container shipping and offers others services like dry bulk, liquid bulk, refrigerated cargo and vehicle transport. CSAV, like its subsidiaries Libra, Libra Uruguay y CSAV Norasia, carry cargo mainly in containers.
  The company is listed on the Santiago Stock Exchange since 1893. With over 140 years, CSAV has played a crucial role in the development of foreign trade in Latin America.
  Previously owned by the Claro Group, CSAV is now controlled by the Luksic Group since February 2012.
context_section_description: CSAV, one of the oldest shipping companies in the World, was founded in 1872 by the merger of Compañía Chilena de Vapores and Compañía Nacional de Vapores. The company's business initially consisted exclusively of coastal shipping services but these were rapidly extended along the whole west coast of South America to the Panama Canal before this was opened to regular traffic.
  In August 1914 the First World War broke out, removing CSAV's major competitor, the British-owned Pacific Steam Navigation Company, whose ships were needed for more urgent war traffic elsewhere. In the same month the Panama Canal was opened, giving CSAV direct access to the eastern USA. For the duration of the war CSAV flourished, and after the war it prioritised its new service between Valparaíso and New York. Foreign shipyards had a backlog of orders to replace tonnage destroyed in the war, so in January 1920 CSAV bought an existing ship from Toyo Kisen Kaisha and renamed her Renaico.
  However, Renaico was 22 years old and lost money on the New York route, so CSAV laid her up and in April 1920 ordered a pair of new steam turbine passenger and cargo liners for the route from Scotts Shipbuilding and Engineering Company of Greenock in Scotland. CSAV intended to order a third sister ship in early 1921, but by then demand, and hence freight rates, had fallen. CSAV suffered an additional loss because delivery of the first two ships was delayed by the continuing backlog of orders. For this combination of reasons the company did not order the intended third ship.
  Scotts launched the first ship, Aconcagua, on 11 February 1922 and completed her in August. Her sister ship Teno was launched on 5 September 1922, completed in December and reached Chile in January 1923. However, the Panama Canal equally gave shipping companies from the eastern USA access to the west coast of Latin America, so now CSAV faced new competition from Grace Line. CSAV reported losses in 1922 and 1923, but from 1922 the Chilean government introduced protection measures for Chilean companies operating shipping services along the country's 2,300-nautical-mile (4,300 km)-long coast, and in 1923 global shipping rates stabilised.
  In 1920 the company had been so keen to add to its fleet that it even bought the 47-year-old 1,971 GRT Itata, which had been built for CSAV in 1873 but which it had later sold. On 28 August 1922 Itata foundered off Coquimbo after her rudder was smashed in a heavy sea. She launched three lifeboats but all capsized, and only 13 survivors reached land.
  The Wall Street Crash of October 1929 started the Great Depression, which destroyed the export market for Chilean nitratine and sharply reduced demand for Chilean copper. The loss of export income significantly reduced Chile's ability to afford imports from overseas, so CSAV's trade both in and out of Chile fell rapidly. At the time of the crash CSAV had a new refrigerated cargo ship on order from Lithgows in Scotland, the 5,348 GRT Toltén, launched in July 1930. By the time Lithgows completed her in October 1930 there was not enough work for CSAV's fleet, leaving the company unable to pay for the new ship, so in 1931 Lithgows repossessed her.
  CSAV's Valparaíso – New York route suffered the greatest loss, so in June 1931 the company suspended the service and made over Aconcagua and Teno to Lithgows in lieu of payment for Toltén. CSAV had not told its shareholders, so when the deal became known there was an outcry in Chilean newspapers. But CSAV continued to lose money, and in August 1932 Aconcagua, Teno and Toltén all returned to Scotland.
  In the mid-1930s trade started to recover, so in June 1936 CSAV ordered three new diesel-powered cargo liners from Nakskov Skibsværft in Denmark. Each was just over 7,200 GRT, had a speed of 17 knots (31 km/h), and refrigerated holds for the export of fruit to Europe. Each ship also had berths for 164 passengers: 32 in first class and 132 in tourist class. In March 1938 the first of the trio, Copiapó, started CSAV's trade with Europe. Nakskov completed her sister ships Aconcagua in Apri
caption: CSAV containers on a ship in the Panama Canal.
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